First you make good games. Then you get the gamers and the money.
That’s the formula publisher Square Enix implemented over the first nine months of its fiscal 2014, and that helped it bring in just over $1 billion in net sales over that period. This morning, the Final Fantasy company reported its financial results through Q3 of its fiscal year, which ended Dec. 31. While its sales were essentially flat (down just 0.3 percent year-over-year), Square Enix managed to bring in a net income of $51.2 million through fiscal 2014 so far.
“Revenues from distribution of console game titles in North America were strong,” reads Square Enix’s fiscal report. “Software sales and operation of [Final Fantasy XIV: A Realm Reborn] have been making favorable progress.”
The company also noted that PC browser and smartphone games are performing well. Specifically, the web-based strategy title Sengoku IXA is showing “steady performance,” and the RPG card battler Kaku-San-Sei Million Arthur is racking up sales on smartphones.
For its full fiscal 2014, which ends March 31, Square Enix expects to generate net sales of around $1.38 billion and $1.48 billion and a net income between $34.5 million and $59.2 million. That is unchanged from its previous guidance.
This marks a turn around for Square Enix, which suffered a $105 million net loss for its fiscal 2013. That led then-chief executive officer Yoichi Wada to step down from his position. The company’s former chief financial officer, Yosuke Matsuda, is Square Enix’s current CEO.
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